The Bitcoin (BTC) market’s recent surge above $60,000 is setting the stage for what could be its next historic rally.
According to a recent analysis by TradingShotshared on TradingView on August 14, the first cryptocurrency could be on track to reach an all-time high of $150,000 by mid-2025.
The forecast is based on the one-month (1M) period and specifically examines the impact of the “bullish cross” of the Moving Average Convergence Divergence (MACD), an important indicator of bullish momentum in the market.
Bitcoin support at 0.786 Fibonacci level and bullish MACD cross
July ended on a positive note for Bitcoin as the cryptocurrency managed to recover from a sharp decline in early August. This recovery is significant as it occurred at the 0.786 Fibonacci retracement level of Bitcoin’s 2021 all-time high (ATH).
Historically, this level has acted as a strong support zone during consolidation phases and often signaled a possible bullish trend reversal.
Additionally, several instances of bullish MACD crossovers are highlighted on the monthly chart, demonstrating that this trend-following momentum indicator typically coincides with the start of significant price rallies.
These crossovers, where the MACD line moves above the signal line, indicate a potential shift from bearish to bullish momentum. Notably, the recent crossover in June 2023 mirrors patterns observed in November 2019 and December 2015. Both crossovers resulted in significant price increases over the next 24 months.
Additionally, it is worth noting that in previous bull cycles, Bitcoin peaked 24 months (731 days) after the MACD cross. Since the June 2023 cross occurred 19 months after the previous peak, this cycle predicts a potential Bitcoin peak for mid-2025, likely in June.
The “Channel Up” pattern indicates higher price targets
Another important element of the analysis is the “Channel Up” pattern, a series of higher highs and higher lows that Bitcoin has exhibited since 2014. This pattern suggests that Bitcoin could be on a trajectory toward values between $200,000 and $300,000.
However, a more cautious approach still suggests a potential price target of $150,000 by mid-2025, which coincides with the upper boundary of the dotted channel, a level that could attract significant profit-taking.
Key Levels to Watch on Bitcoin’s Road to $150,000
As Bitcoin continues its uptrend, several key levels deserve special attention. The $24,000 level, which is pegged to the .786 Fibonacci retracement, remains a key support zone where buying interest has previously surged.
If Bitcoin maintains its position above $60,000, a level that could act as a psychological barrier, the next resistance is expected to be around $100,000, a level within the upper half of the “Channel Up” pattern. A break above this could pave the way to the $150,000 target by mid-2025.
Bitcoin Price Analysis
At the time of writing, Bitcoin is trading at $61,240, with a 24-hour gain of over 4%. On the weekly chart, BTC remains in positive territory with gains of over 6%.
In summary, based on historical patterns, Fibonacci levels, and MACD analysis, the chart suggests that Bitcoin is currently in a consolidation phase, which often precedes a significant second rally within the current bull cycle.
If historical symmetry and time cycles hold, Bitcoin could reach a price of around $150,000 by mid-2025, with even higher gains possible depending on market dynamics.
Disclaimer: The content of this website does not constitute investment advice. Investments are speculative. When you invest, your capital is at risk.
